Overview

Property ID: SB24215716

Apartment, Residential Income
Property Type

4.0
Garages

3692 Sqft
Area Size

1928
Year Built

Description

Just reduced! Large 5 unit building with (3) 3-Bed Units, (1) Large 2-Bed Unit, and (1) 1-bed unit in the excellent neighborhood of South Wrigley. The building is conveniently located less than a mile from the 710 Freeway, less than 2 miles from the 405, and just 2 miles North of the beach. Attractive residential tree-lined street. The property is priced to sell at 10.86 GRM and a current cap rate of 5.66%. There is approximately 7% upside in income to a market cap rate of 6.3%. It has fresh exterior paint and the electrical system was just updated in September of 2024. There is also a detached garage building off of the back alley that has 4 spots in 3 separate garages. Perfect ADU opportunity.

Address

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Address: 2024 Chestnut Avenue
City: Long Beach
State/county: CA
Zip/Postal Code: 90806
Area: Wrigley Area (WR)
Country: US

Details

Updated on April 23, 2025 at 11:32 pm

Property ID SB24215716
Price $1,299,000
Property Size 3692 Sqft
Land Area 0.1469 Acres
Garages 4.0
Year Built 1928
Property Type Apartment, Residential Income
Property Status Closed

Additional details

Listing Terms Cash to New Loan, Conventional
Roof Flat, Tile
Utilities Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Sewer Public Sewer
Cooling None
Heating Wall Furnace
Flooring Carpet, Tile, Vinyl
County Los Angeles
Property Type Residential Income
Pool None
Parking Garage Faces Rear
Community Features Suburban
Architectural Style Mediterranean